BUDGETING

Budgeting was essential to everyone, especially to those students who has limited

budget to sustain their wants and needs for their personal interest. According to Ryerson (2014) a budget is a plan that shows all your monthly cash inflows and outflows. It is a snapshot of what you have and what you expect/plan to spend, helping you identify your spending and savings habits and achieve your financial goals. The most essential part of a financial plan is budgeting. The money a person has is not a sign of how much money they make, but a sign of how efficient their budget is. If you want to manage your finances effectively, you need to know where your money is going. Contrary to how it seemed, budgeting is not difficult, it is not complicated, and it does not diminish the happiness of your life, budgeting saves you from future financial hardship and a life of debt.